23 Apr 2009, ET Bureau
MUMBAI: Indian key indices rose sharply after a brief choppy session Thursday as buying activity resumed in the frontline stocks. IT, auto and metal stocks showed strength while realty and healthcare space edged lower.
“The big ticket results include Reliance Industries where India Infoline expects an 8.4% yoy fall in revenues and 6.9% yoy drop in net profit. A positive surprise on this front will give some boost to the counter. But the main trigger for the bulls would be a short squeeze,” said India Infoline report.
At 12:15 pm, National Stock Exchange’s Nifty was at 3380.10, up 49.80 points or 1.50 per cent. The index touched a high of 3382 and low of 3310.50.
Bombay Stock Exchange’s Sensex was at 10991.76, up 174.22 points or 1.61 per cent. The 30-share index hit a high of 10995.99 and low of 10758.97.
BSE Midcap Index was up 0.14 per cent and BSE Smallcap Index declined 0.06 per cent.
Amongst the sectoral indices, BSE IT Index was up 3.23 per cent, BSE Metal Index moved up 2.67 per cent and BSE Auto Index gained 2.18 per cent. BSE Realty Index was down 0.71 per cent and BSE Healthcare Index was modestly lower.
Wipro (7.83%), Tata Steel (5.62%), SAIL (4.66%), Tata Motors (4.19%) and Reliance Communications (3.97%) were the top Nifty gainers.
Unitech (-4.72%), HCL Tech (-3.84%), Sun Pharma (-2.04%), Bharti Airtel (-1.82%) and BPCL (-1.52%) were the top Nifty losers.
Market breadth was negative on the BSE with 1054 advances and 1123 declines.
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